Thanks for your comment, I get your point.
I’m of the same age and been in the market for last 4 years (not very active in initial years). Though, I never touched F&O and the reason is the same you mentioned but I have the exposure and experience to talk about it. I’ll tell you my approach.
F&O is the by product of equity where equity is meant for wealth creation while F&O has been meant for trading. Since I knew equities are what generate money, I only focused there. And data also suggests that 9 out of 10 traders incur losses in F&O and those who generate profits, their magin shrinks thanks to the charges. Also those who make profit have had booked losses in the past (this is my experience too).
Since you have dealt with the toughest segment, don’t leave the market. Just switch the segment. Take swing trades in equity and if you are able to crack 10% gain a month you are done. And if you can arrange a huge capital like 1 cr then even 10% gain a year would make you one of the richest person of the country (according to a survey). There are more than 6000 stocks in the market, you will easily find one stock that will give the 10%.
I suggest you need to keep the focus on for quite some more time as well. In case you do not wish to operate with real money, use the forward testing plan from Algo providers.
I trade only options, so unable to comment on swing trading on stocks. Options Trading has the power to generate money in both trending and non-directional markets.
The operator (we) need(s) to be smart to gauge what type of market it is and deploy those strategies.
Also, the markets were a bit rough. Never in my history of trading, I have lost 3 consecutive months. This Jan to Mar has been pretty mean to me. So, I am taking it up as a wake-up call to innovate & improvise my strategies.
I would agree, if something affecting you so mentally better quit , world is too big for finding opportunity
1 Like
I have been very invested in the process as well and money serves as a motivation for partaking in the process. Your timeframe of becoming profitable would give me an idea about where I stand. I keep my stop loss at 8-10 points in nifty and my target is 30-40 points, gaining momentum(decay) in options which imbalances my risk-reward, I try to keep a proper sl, but sometimes my accuracy slips of due to volatility and I hit my sl more often than i should. I analyse my trades and try to improvise but it has been tough figuring out the stats in stocks as compared to options (which do with a fellow trader). I would be greatful if you could share your perspective for analysing charts.
Different people find different ways of making it work, so its hard to say what you need.
In my own case, while the struggling years created a foundation, testing the market data was the biggest jump i made.
Its something else to be able to ask a question to the market data and get a black and white answer back. Its no holy grail and mistakes can be made there too, but that’s what helped me most in the end.
No more ambiguity of discretion, which had suffered from lack of exhaustive testing (very hard to do manually) and endless tweaking based on what happened recently.
It appears you’re in a situation where you’ve attempted various strategies over the last three years, and now you’re feeling somewhat stuck, seeking guidance in a forum. This suggests a sense of helplessness. Moving forward, if you do achieve profitability, there’s a concern that you might experience heightened anxiety and possibly exit trades prematurely due to a lack of familiarity with success. Prioritizing mental health is crucial, as no amount of money is worth sacrificing it for.
I may not be the one to make such judgments, but it seems evident that you are a very hard working person and have the potential to excel in a different field.
And what makes you feel that way?
Trading, much like the entertainment industry, can appear glamorous from the outside, but the reality is known only to those immersed in it. So, if you’re influenced by financial influencers on social media, it’s important to recognize that it’s not as straightforward as they may portray it to be.
2 Likes
thank you, I appreciate the advice!
I appreciate your insights, thanks!
I’m not aware of the disadvantages and strategies involved in options selling, it would be great if you could offer insights/ link me with someone who can offer insights (can be paid as long they know their stuff). Also, is options selling better than stock swing trading in your opinion?
Thanks for your advice, I’ll try to automate my data analysis process.
Thanks for your insights. Could you please direct me to any sources which would help me understand more about options greeks? It would be of immense help.
thanks for the positive comment, stay in touch if you want to discuss anything about the market.
thanks, hope you get your strategy in place soon. Let’s discuss about it sometime over dm.
Varsity man, you wouldn’t get anything better than that, Explanation is plain simple. For more research you have to google only.